Taxlab’s cash flow forecasting and budgeting service helps small and medium-sized businesses across Bathgate and West Lothian plan ahead with confidence. We turn the numbers in your accounting software into clear forecasts, budgets and reports, so you can spot cash shortfalls early, plan for tax bills and make better decisions about growth.
Why forecasting and budgeting matter
- Avoid cash surprises: see when money will be tight weeks or months in advance
- Plan for tax: set aside cash for VAT, PAYE, Corporation Tax and Self Assessment
- Make confident decisions: test the impact of hiring, investing, price changes or new contracts before you commit
- Support finance applications: banks and lenders usually ask for forecasts with a loan or overdraft application
- Track performance: compare actual results with your budget and act quickly when things drift
Our approach
- Start from your real data. We use your historical and current figures from Xero, FreeAgent or QuickBooks to build a draft forecast.
- Agree the assumptions. We combine our experience of your sector and the wider economy with your plans to set realistic sales, cost and payment-timing assumptions.
- Build an integrated forecast. Profit and loss, balance sheet and cash flow are linked, so a change in one flows through to the others.
- Model “what if” scenarios. Different growth rates, staffing levels, pricing or funding options, with the clear impact on sales, costs, profit and cash.
- Track budget against actual. Monthly or quarterly reports show where you are ahead or behind, so you can spot problems and opportunities before it is too late.
- Review regularly. We meet with you to update the forecast and make sure there are no surprises.
Reporting with Syft Analytics
We use Syft Analytics, which is now part of Xero, alongside your Xero data to produce clear, visual reports and forecasts. Syft gives you:
- interactive dashboards and management reports
- cash flow and multi-scenario forecasts
- custom KPIs and industry benchmarking
- consolidated reporting across group companies and currencies
Find out more about Syft Analytics from Xero. Xero’s own analytics tools also include short-term cash flow projections and a business snapshot.
Tax payments to build into your cash flow
- PAYE and National Insurance: by the 22nd of the following month (or quarterly for small employers) if paying electronically
- VAT: usually 1 calendar month and 7 days after the end of each VAT period
- Corporation Tax: 9 months and 1 day after the end of your accounting period for most small companies
- Self Assessment: 31 January and 31 July, including payments on account
We include these in your forecast so tax bills never come as a shock. See also our VAT and Self Assessment services.
Who this service is for
- growing businesses planning to hire, invest or expand
- businesses applying for a bank loan, overdraft or other finance
- owners who want monthly management accounts and KPIs
- groups needing consolidated reporting
- any business wanting better control of cash flow
Frequently asked questions
What is the difference between a budget and a forecast?
A budget is your plan or target for the year. A forecast is your best current estimate of what will actually happen, updated as circumstances change. Used together, they show whether you are on track.
How often should a cash flow forecast be updated?
Most small businesses benefit from a monthly update. If cash is tight or you are going through a period of change, weekly cash monitoring may be worthwhile.
Do I need to use Xero?
Xero with Syft gives the most automated reporting, but we can also work with FreeAgent, QuickBooks and other systems.
Plan your next 12 months
Talk to Taxlab about forecasting and budgeting. Contact us, call 0845 862 6009 or message us on WhatsApp.
This page gives general information only and does not constitute professional advice.